BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 28

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BUSN 380 Week 2 Problem Set 2
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TCO 2 - Problem Set 2 - Tax Fundamentals; Cash Management;
Distinctions among Financial Institutions
1. Thomas Franklin arrived at the following tax information:
Gross salary, $46,660
Interest earnings, $225
Dividend income, $80
One personal exemption, $3,400
Itemized deductions, $7,820
Adjustments to income, $1,150
What amount would Thomas report as taxable income?
2. What would be the net annual cost of the following checking
account?
Monthly fee, $3.75;